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(Reuters) - On Deck Capital Inc, an online platform for small business lending, expects its initial public offering to be priced at $16-$18 (10-11 pounds) per share, valuing the company at up to $1.19 billion.
On Deck, which is selling all 10 million shares in the offering, is expected to raise up to $180 million.
New York City-based On Deck counts RRE Ventures, First Round Capital, Google Ventures, Institutional Venture Partners, Tiger Global Private Investment Partner and SAP Ventures among its top shareholders.
RRE Ventures, co-founded by former American Express Co Chief Executive James Robinson, is On Deck's biggest shareholder and will see its stake drop to 12.8 percent from 15 percent after the offering.
On Deck, which gives credit of up to $250,000 to small businesses such as hair salons and doctor's offices, said it has originated more than $1.7 billion in loans since 2007.
The online lender expects to be listed on the New York Stock Exchange under the symbol "ONDK".
The company had received about $180 million in equity and more than $300 million in debt financing at the end of March.
Morgan Stanley, BofA Merrill Lynch and J.P. Morgan are among the major underwriters for On Deck's offering.
LendingClub Corp, the world's largest online marketplace directly connecting borrowers and investors, has also filed to go public.
The company expects its IPO to be priced between $10-$12 per share, valuing the company at up to $4.33 billion.
(Reporting by Avik Das in Bengaluru; Editing by Siddharth Cavale)